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Project Syndicate - Opinion Articles from the World's Thought Leaders
40Can the Euro Be Repaired?When Wolfgang Schäuble, Germany’s finance minister, recently tabled the option of a Greek exit from the euro, he wanted to signal that no member country could abstain from the monetary union's rules. But his initiative triggered a much broader discussion of the euro’s governance and the very rationale for its existence.]]>https://www.project-syndicate.org/commentary/eurozone-reform-possibilities-by-jean-pisani-ferry-2015-079https://www.project-syndicate.org/commentary/eurozone-reform-possibilities-by-jean-pisani-ferry-2015-07https://www.project-syndicate.org/commentary/eurozone-reform-possibilities-by-jean-pisani-ferry-2015-07
Fri, 31 Jul 2015 14:50:05 +0000Jean Pisani-FerryThe Profit-Sharing EconomyAs the income of the top 1% of US households soars, wages for the majority of American workers continue to stagnate, which is undermining long-term economic growth and prosperity. The introduction of more broad-based profit-sharing arrangements could be a key step toward ameliorating this trend.]]>https://www.project-syndicate.org/commentary/profit-sharing-economy-by-laura-tyson-2015-078https://www.project-syndicate.org/commentary/profit-sharing-economy-by-laura-tyson-2015-07https://www.project-syndicate.org/commentary/profit-sharing-economy-by-laura-tyson-2015-07
Fri, 31 Jul 2015 14:20:04 +0000Laura TysonStill Too Big to FailNearly seven years after the global financial crisis erupted, and more than five years after the passage of the Dodd-Frank financial-reform legislation in the US, the cause of the crisis – banks that are “too big to fail” – has yet to be uprooted. As long as that remains the case, another disaster is only a matter of time.]]>https://www.project-syndicate.org/commentary/too-big-to-fail-standard-bankruptcy-rules-by-simon-johnson-2015-079https://www.project-syndicate.org/commentary/too-big-to-fail-standard-bankruptcy-rules-by-simon-johnson-2015-07https://www.project-syndicate.org/commentary/too-big-to-fail-standard-bankruptcy-rules-by-simon-johnson-2015-07
Fri, 31 Jul 2015 12:30:10 +0000Simon JohnsonPolio’s Last StandNigeria has not has a single case of wild polio in the last 12 months. This important achievement provides grounds for optimism, not only in the fight against polio, but for global health efforts in general, showing that it is possible to bring modern medicine to the world’s most marginalized and hard-to-reach children.]]>https://www.project-syndicate.org/commentary/nigeria-polio-eradication-gavi-alliance-by-seth-berkley-and-muhammad-pate-2015-070https://www.project-syndicate.org/commentary/nigeria-polio-eradication-gavi-alliance-by-seth-berkley-and-muhammad-pate-2015-07https://www.project-syndicate.org/commentary/nigeria-polio-eradication-gavi-alliance-by-seth-berkley-and-muhammad-pate-2015-07
Fri, 31 Jul 2015 11:50:04 +0000Seth Berkley, et al. Rule, GermaniaA persistent feature of the discussions about how to address Europe's debt crisis has been German leaders' insistence that the rules must be followed. Germany's obsession with rules reflects the way its federal system of government has shaped its decision-making, as well as its historic experience with debt crises.]]>https://www.project-syndicate.org/commentary/why-germany-insists-greece-follow-eurozone-rules-by-harold-james-2015-0719https://www.project-syndicate.org/commentary/why-germany-insists-greece-follow-eurozone-rules-by-harold-james-2015-07https://www.project-syndicate.org/commentary/why-germany-insists-greece-follow-eurozone-rules-by-harold-james-2015-07
Thu, 30 Jul 2015 16:00:16 +0000Harold JamesAre US Middle-Class Incomes Really Stagnating?The challenge of raising the incomes of middle-class families has emerged as an important focus of the unfolding US presidential election campaign. Unfortunately, the political debate is distorted by misleading statistics that grossly understate how well middle-income families have actually done over the past few decades.]]>https://www.project-syndicate.org/commentary/are-us-middle-class-incomes-stagnating-by-martin-feldstein-2015-0722https://www.project-syndicate.org/commentary/are-us-middle-class-incomes-stagnating-by-martin-feldstein-2015-07https://www.project-syndicate.org/commentary/are-us-middle-class-incomes-stagnating-by-martin-feldstein-2015-07
Thu, 30 Jul 2015 15:30:11 +0000Martin FeldsteinContainment Begins at HomeLast week’s shooting at two military sites in Chattanooga, Tennessee, vindicated the late George F. Kennan’s warning that US foreign policymakers check their urge to act, especially militarily. One can never know when the blowback will come, Kennan warned, but it will.]]>https://www.project-syndicate.org/commentary/containment-begins-at-home-chattanooga-george-kennan-by-nina-l--khrushcheva-2015-077https://www.project-syndicate.org/commentary/containment-begins-at-home-chattanooga-george-kennan-by-nina-l--khrushcheva-2015-07https://www.project-syndicate.org/commentary/containment-begins-at-home-chattanooga-george-kennan-by-nina-l--khrushcheva-2015-07
Thu, 30 Jul 2015 13:50:05 +0000Nina L. KhrushchevaThe Iran Deal’s North Korean ShadowMany critics of the Iranian nuclear agreement compare Iran’s behavior to that of North Korea, suggesting that the deal will not hold because deals with North Korea never have. The key question is whether Iran's leaders understand that the agreement represents a defining moment for their country.]]>https://www.project-syndicate.org/commentary/iran-north-korea-nonproliferation-by-christopher-r-hill-2015-072https://www.project-syndicate.org/commentary/iran-north-korea-nonproliferation-by-christopher-r-hill-2015-07https://www.project-syndicate.org/commentary/iran-north-korea-nonproliferation-by-christopher-r-hill-2015-07
Thu, 30 Jul 2015 12:20:16 +0000Christopher R. HillLetting China’s Bubble BurstAs China’s capital markets expand, they are outstripping policymakers' capacity to manage prices and valuations. The only practical way forward is for the authorities to focus on regulatory and institutional development, while following through on their commitment to permit markets to self-correct.]]>https://www.project-syndicate.org/commentary/china-equity-bubble-correction-by-michael-spence-2015-077https://www.project-syndicate.org/commentary/china-equity-bubble-correction-by-michael-spence-2015-07https://www.project-syndicate.org/commentary/china-equity-bubble-correction-by-michael-spence-2015-07
Wed, 29 Jul 2015 17:00:18 +0000Michael SpenceIt’s Time to Ban the BombSeventy years ago next month, the nuclear bombs dropped on Hiroshima and Nagasaki opened the darkest chapter in the long history of humanity’s wartime horrors. The international agreement to curtail Iran's nuclear program, while welcome, also serves as a reminder that the chapter remains open – and that it must be closed for good.]]>https://www.project-syndicate.org/commentary/time-to-ban-nuclear-weapons-by-hans-blix-2015-071https://www.project-syndicate.org/commentary/time-to-ban-nuclear-weapons-by-hans-blix-2015-07https://www.project-syndicate.org/commentary/time-to-ban-nuclear-weapons-by-hans-blix-2015-07
Wed, 29 Jul 2015 15:30:11 +0000Hans BlixIn Defense of VaroufakisGreeks and other Europeans may fault Yanis Varoufakis, Greece's former finance minister, for pursuing his agenda with too little politesse while in office. But the essence of that agenda was – and remains – largely correct.]]>https://www.project-syndicate.org/commentary/varoufakis-agenda-defended-by-mohamed-a--el-erian-2015-0745https://www.project-syndicate.org/commentary/varoufakis-agenda-defended-by-mohamed-a--el-erian-2015-07https://www.project-syndicate.org/commentary/varoufakis-agenda-defended-by-mohamed-a--el-erian-2015-07
Wed, 29 Jul 2015 15:00:17 +0000Mohamed A. El-ErianNo Agnostics in the Climate FoxholeThose who claim to be "agnostic" on climate change are rejecting the scientific consensus no less than outright climate-change deniers. As financial institutions and others begin to respond to the threat of global warming, those who refuse to recognize the dangers will be left out in the cold.]]>https://www.project-syndicate.org/commentary/australia-climate-change-agnostic-krauthammer-by-john-hewson-2015-075https://www.project-syndicate.org/commentary/australia-climate-change-agnostic-krauthammer-by-john-hewson-2015-07https://www.project-syndicate.org/commentary/australia-climate-change-agnostic-krauthammer-by-john-hewson-2015-07
Wed, 29 Jul 2015 14:00:19 +0000John HewsonEncouraging WorkFew policies manage to be economically illiterate and heartless at the same time. But Britain’s Conservative government has achieved just that, by cutting tax credits for low-income workers.]]>https://www.project-syndicate.org/commentary/uk-removes-wage-subsidies-low-income-workers-by-andres-velasco-2015-073https://www.project-syndicate.org/commentary/uk-removes-wage-subsidies-low-income-workers-by-andres-velasco-2015-07https://www.project-syndicate.org/commentary/uk-removes-wage-subsidies-low-income-workers-by-andres-velasco-2015-07
Wed, 29 Jul 2015 12:00:15 +0000Andrés VelascoLatin America’s Anti-Corruption CrusadeLatin America has been plagued by corruption for centuries. But, in responding to recent corruption scandals, the region's societies and institutions have shown their unwillingness to remain complicit in corruption, or continue resigning themselves to its inevitability.]]>https://www.project-syndicate.org/commentary/latin-america-corruption-scandals-by-jorge-g--casta-eda-2015-074https://www.project-syndicate.org/commentary/latin-america-corruption-scandals-by-jorge-g--casta-eda-2015-07https://www.project-syndicate.org/commentary/latin-america-corruption-scandals-by-jorge-g--casta-eda-2015-07
Tue, 28 Jul 2015 15:00:16 +0000Jorge G. CastañedaChina’s Abnormal Stock MarketChina's stock market has plunged yet again, and it is likely to fall further. The big question now is whether the recent volatility will spill over into other asset markets and the real economy.]]>https://www.project-syndicate.org/commentary/china-stock-market-crash-by-linda-yueh-2015-070https://www.project-syndicate.org/commentary/china-stock-market-crash-by-linda-yueh-2015-07https://www.project-syndicate.org/commentary/china-stock-market-crash-by-linda-yueh-2015-07
Tue, 28 Jul 2015 14:20:05 +0000Linda YuehDon’t Lend to Your Euro FriendsAfter months of brinkmanship, and only a week after Greek voters rejected the conditions for a rescue package, the eurozone's political leaders agreed to start negotiations on a much larger package, worth almost half of Greece’s GDP. Unfortunately, the deal reveals Europe’s apparent determination to reenact the same tragedy in the future.]]>https://www.project-syndicate.org/commentary/greek-crisis-socializing-sovereign-debt-by-hans-werner-sinn-2015-0717https://www.project-syndicate.org/commentary/greek-crisis-socializing-sovereign-debt-by-hans-werner-sinn-2015-07https://www.project-syndicate.org/commentary/greek-crisis-socializing-sovereign-debt-by-hans-werner-sinn-2015-07
Tue, 28 Jul 2015 13:50:05 +0000Hans-Werner SinnThe Dangerous Rise of Buddhist ChauvinismThe Buddha, Siddhartha Gautama, composed no sutta to religious hatred or racial animus. And yet Buddhist chauvinism now threatens the democratic transitions in both Myanmar and Sri Lanka.]]>https://www.project-syndicate.org/commentary/rise-of-buddhist-chauvinism-myanmar-sri-lanka-by-yuriko-koike-2015-0712https://www.project-syndicate.org/commentary/rise-of-buddhist-chauvinism-myanmar-sri-lanka-by-yuriko-koike-2015-07https://www.project-syndicate.org/commentary/rise-of-buddhist-chauvinism-myanmar-sri-lanka-by-yuriko-koike-2015-07
Tue, 28 Jul 2015 13:00:18 +0000Yuriko KoikeThe Lethal Deferral of Greek Debt RestructuringThe point of restructuring debt is to reduce the volume of new loans needed to salvage an insolvent entity: Creditors offer debt relief to get more value back and to extend as little new finance to the insolvent entity as possible. Remarkably, Greece’s creditors seem unable to appreciate this sound financial principle.]]>https://www.project-syndicate.org/commentary/greece-debt-restructuring-by-yanis-varoufakis-2015-0723https://www.project-syndicate.org/commentary/greece-debt-restructuring-by-yanis-varoufakis-2015-07https://www.project-syndicate.org/commentary/greece-debt-restructuring-by-yanis-varoufakis-2015-07
Tue, 28 Jul 2015 12:20:05 +0000Yanis VaroufakisAlpha, Beta, and BeyondEven in normal times, individual and institutional investors alike have a hard time figuring out where to invest and in what. But a new, low-cost approach to investing – neither active nor passive – promises to ease the challenge confronting investors in normal and abnormal times alike.]]>https://www.project-syndicate.org/commentary/low-cost-approach-to-investing-smart-beta-by-nouriel-roubini-2015-0712https://www.project-syndicate.org/commentary/low-cost-approach-to-investing-smart-beta-by-nouriel-roubini-2015-07https://www.project-syndicate.org/commentary/low-cost-approach-to-investing-smart-beta-by-nouriel-roubini-2015-07
Mon, 27 Jul 2015 14:50:06 +0000Nouriel RoubiniMarket Manipulation Goes GlobalAll eyes are now on China’s attempts to cope with the collapse of a major equity bubble. But the Chinese authorities’ efforts are hardly unique: All the leading economies of the West are doing pretty much the same thing – just dressing it up in different clothes.]]>https://www.project-syndicate.org/commentary/china-stock-market-bubble-intervention-by-stephen-s--roach-2015-078https://www.project-syndicate.org/commentary/china-stock-market-bubble-intervention-by-stephen-s--roach-2015-07https://www.project-syndicate.org/commentary/china-stock-market-bubble-intervention-by-stephen-s--roach-2015-07
Mon, 27 Jul 2015 13:50:05 +0000Stephen S. Roach